Clinton, New Jersey Bank Gives SBA Loan to Baked Goods Stores Company

Want to talk with a Clinton, New Jersey bank about a small business loan? Here's one New Jersey business loan, issued by a Clinton bank, that was approved by the SBA.

Applying for an SBA loan with Unity Bank worked out well for our friends at one local company in Passaic Junction, New Jersey. The business was able to get an SBA loan for $540,000. Nice!

SBA Loan Borrower

COMPANY TYPE: BAKED GOODS STORES
PASSAIC JUNCTION, NJ 07055

SBA Loan Lender

UNITY BANK
64 OLD HWY 22
CLINTON, NJ 08809

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445291 - Baked Goods Stores

Loan Approval Date

3/20/2001

Loan Approval Gross Amount

$540,000

Loan Approval from the SBA

Of the total $540,000 loan amount, the SBA guaranteed $405,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Unity Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Unity Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Accountant's Role in Securing Financing

Who Lends Money to Small Businesses in Clinton, New Jersey

Getting an SBA Loan in New Jersey